Bitcoin / Dollar intraday: the downside prevails as long as 43660 is resistance
Our pivot point is at 43660.
Our preference:
The downside prevails as long as 43660 is resistance.
Alternative scenario:
The upside breakout of 43660, would call for 44930 and 45680.
Comment:
The RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 43306 and 43589).
This material is from Trading Central and is being posted with permission from Trading Central. The views expressed in this material are solely those of the author and/or Trading View and BTCDana is not endorsing or recommending any investment or trading discussed in the material. Before acting on this material, you should consider whether it is suitable for your circumstances and as necessary, seek professional advice.